AS PN Project, the developer of Preses Nama Kvartāls in Riga, has successfully completed the eighth tranche of its bond program, raising EUR 2.9 million and increasing the total amount raised in bond programme to EUR 45.9 million. The funds raised will be also used for the continued construction of the office building, ensuring completion on schedule and supporting the long‑term development of the centre.

Despite seasonally lower demand before the holiday period, the successful EUR 2.9 million raise highlights the bonds’ appeal and investors' trust. The bonds trade on Nasdaq Baltic and are secured by the EUR 46.5 million mortgage on Preses Nama Kvartāls property.

Since the launch of the new bond program, PN Project has raised approximately EUR 45.9 million, representing around 77% of the planned bond financing for the Preses Nama Kvartāls office building.

About Preses Nama Kvartāls

The development of Preses Nama Kvartāls is carried out in several construction phases. The first phase includes A-class office building. The concept of further development of landplot includes a medical or educational center, hotel or residential building, an office building and other facilities. Renovation works of the existing Preses nams building are also planned. The project developer is Lords LB Asset Management, whose total assets under management reached 1,331 billion euros by the end of December 2024.

      For additional information, please contact:
      Rasa Bartusevičienė
      Investor relations manager
      rasa.bartuseviciene@lordslb.lt
      +370 616 34096
      
      Povilas Urbonavičius
      Fund manager
      povilas.urbonavicius@lordslb.lt
      +370 687 9651
      
      Igors Daņilovs
      Financial director
      igors.danilovs@lordslb.lv
      +371 26765354